Convano and FINX JCrypto to Issue JPY-Backed Stablecoin
Convano Inc, known for its Japanese nail salons, is entering crypto by planning a JPY-backed stablecoin. The project starts with platform and network development in partnership with FINX JCrypto. Due to Japan’s Settlement Act, only licensed banks can issue stablecoins. To comply, Convano will first build a transfer and settlement network with a money transfer provider. The JPY-backed stablecoin will use Japanese government bonds as reserve assets to guarantee 1:1 redemption. The initiative targets a pilot launch on September 1, 2025, backed by an initial investment of ¥50 million. Convano aims to secure its own issuer license by December 2027 to legally mint the JPY-backed stablecoin. Currently, the company holds about 365 BTC, worth roughly ¥64 billion.
Neutral
The planned JPY-backed stablecoin from Convano and FINX JCrypto is a niche, long-term project with limited immediate market impact. Historical launches of regional stablecoins, such as JPYC, did not significantly move trading volumes or Bitcoin prices. In the short term, traders are unlikely to adjust positions solely on this news. Over the long term, the initiative may support Japan’s stablecoin ecosystem, but it won’t drastically alter broader market trends or trigger major bullish or bearish moves.